A business plan is a written document that explains what the business is, how it operates, what it’s goals are and how it plans to achieve those goals. Many think that only those seeking financing need a business plan. They consider the business plan a necessity for the bank – that’s it. They could not be more wrong and here are five reasons why. 1)     Benchmarking – A good business plan identifies what are called Key Performance Indicators (KPI’s) for the business. A business can then use these KPI’s to measure its success moving forward. This can help when you are looking at specific [...]